Monero does a much better job on payments than Lightning with real privacy and real simplicity!
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Discussion
Is it instant?
Instant enough for me.
But if i want a instant payment that is faster more reliable and private than Lightning i would use Kaspas..
So monero is not instant. Thanks for sharing. The other problem is that monero is not bitcoin where as lightning is.
Higher fees on chain pays for its security
Lightning has lower fees & is instant. The tradeoff is security.
If all that mattered was how fast a transaction was we would all just stick to using Paypal, Venmo, CashApp, etc
Lightning isn't even the fastest crypto. Nano is faster, feeless, and actually final settlement.
So monero isn't instant
Thanks
Nope
But tradfi apps blow lightning out the water in both usability, speed, and network effect if that is all that matters to you 👌
So what's a monero scaling solution? Or they don't plan to have many users?
Lol @ thinking lightning is a scaling solution
truthcoin.info/blog/lightning-limitations
The masses are never going to choose self-responsibility and sovereignty over convenience. Or that nation states will allow it to operate on white markets unrestrained. It's a fever dream and not even necessary for Bitcoin or Monero to succeed.
So you're saying monero doesn't have a scaling solution because its not for the masses.
OK thanks
Nope and neither does Bitcoin 👍
What's the benefit for the masses to adopt Bitcoin, Monero, or Lightning over tradfi apps if most don't care about self custody and permissionless p2p transactions anyway?
Payment apps are feeless, faster, convenient, more people/businesses use and accept them, and they don't have a criminal stigma attached to them.
They also have central exchanges and ETFs that give them price exposure to Bitcoin if they want that.
🤷♂️
I was hoping you were going to tell me Nth Korea is going to adopt a monero standard.
...
As the masses fiat continues to degrade in purchasing power, some of them will have to recognize bitcoin as better money. They will need to learn, like everyone else about self custody & privacy. If they don't, then they will suffer in one way or another
Nano is interesting. Last i checked though its trusted. It relies on Ethereum like POS, Judiciator whales.
Yea, not private either...and the community seems very naive about this in general.
It definitely has it's own share of problems. I at least respect their efforts towards true utility. And community seems genuine. They arent just some pump and dump scam. Never see Nano heads talking about price.
Nano uses DPoS for voting. A form of PoS which I don't like either.
The tech itself is more interesting to me. Instant transactions via DAGs and feeless txs that are spam proof are something almost no crypto is doing. Maybe XMR could use them to improve without the PoS stuff.
I try to keep my mind open. I'm no Nano expert though.
@atxmj, @mira_hurley, @Ghostbanned7, and @vinibarbosabr (xmr and nano guy) are great follows on Twitter to learn more about it.
Not sure why people always think that lighting doesn’t have problems.
Sure it has problems but why shouldn’t we fix the problems we have and use something else instead?
In my head it’s a bit of a fiat mindset. It doesn’t do what I want/ what I expected. Let’s throw it away and use something new 😅🫣
Fiat mentality is using a worsts tools just to prove a point that bitcoin can do everything, instead of using the best tools available to grant self-sorvegnity!
Yes i know Bitcoin can do everything, but it is the best solution for all use cases? 👀
Monero has a its own problems. The problem I see most people do is to think that just because monero is not traceable today this will also be the case in future.
If you want to by something that’s illegal I would always prefer cash over a digital ledger, no matter how good he is secured.
For anything else there is lightning and coinjoin.
But that’s only my point if view. If you want to use monero or something else, do it. The only thing you shouldn’t do is storing value in a asset that’s not bitcoin
We live in today, and what i want to me is what is the best today, not in a day that i can even no be here anymore.
It’s not a question of legality, everyone has the right to have privacy.
Lightning and coinjoin are shity solutions bth.
What i should do and not do it’s my problem, i do what i want.
Like Snowden says
“Arguing that you don't care about privacy because you have nothing to hide is no different than saying you don't care about free speech because you have nothing to say.”
The sam thing applies for financial transactions
"Sure it has problems but why shouldn’t we fix the problems we have and use something else instead?"
I suggest you to watch "Who Killed Bitcoin?" documentary. It explains how btc core team/devs take a different direction from the initial principles purposed by Satoshi Nakamoto
And that’s a problem? No it isn’t! Bitcoin is good as it is today. That’s why I run the current version of Bitcoin Core.